BidaskClub downgraded shares of Helmerich & Payne, Inc. (NYSE:HP) from a sell rating to a strong sell rating in a research note issued to investors on Friday morning.

Other equities research analysts have also recently issued research reports about the stock. UBS AG restated a buy rating and issued a $86.00 target price (down previously from $91.00) on shares of Helmerich & Payne in a report on Tuesday, May 2nd. Royal Bank Of Canada set a $80.00 target price on shares of Helmerich & Payne and gave the stock a hold rating in a report on Saturday, July 1st. Vetr upgraded shares of Helmerich & Payne from a hold rating to a buy rating and set a $55.00 target price on the stock in a report on Monday, July 10th. Zacks Investment Research upgraded shares of Helmerich & Payne from a sell rating to a hold rating in a research note on Thursday, July 13th. Finally, Seaport Global Securities reiterated a sell rating on shares of Helmerich & Payne in a research note on Thursday, July 20th. Seven analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $56.77.

Shares of Helmerich & Payne (NYSE HP) traded down 0.87% during trading on Friday, hitting $50.18. The stock had a trading volume of 914,776 shares. The firm’s market cap is $5.45 billion. The stock has a 50 day moving average of $54.11 and a 200 day moving average of $62.50. Helmerich & Payne has a 52-week low of $49.46 and a 52-week high of $85.78.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.05. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. The company had revenue of $498.60 million for the quarter, compared to analysts’ expectations of $452.42 million. During the same quarter last year, the company posted ($0.20) earnings per share. The firm’s quarterly revenue was up 36.0% on a year-over-year basis. On average, equities analysts anticipate that Helmerich & Payne will post ($1.32) EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a $0.70 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 5.53%. Helmerich & Payne’s dividend payout ratio is currently -167.66%.

Hedge funds have recently made changes to their positions in the stock. Thrivent Financial for Lutherans increased its stake in shares of Helmerich & Payne by 5.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,760 shares of the oil and gas company’s stock worth $291,000 after buying an additional 210 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Helmerich & Payne by 4.1% in the fourth quarter. Teachers Advisors LLC now owns 154,623 shares of the oil and gas company’s stock worth $11,968,000 after buying an additional 6,096 shares in the last quarter. Kentucky Retirement Systems bought a new stake in shares of Helmerich & Payne during the fourth quarter worth about $608,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Helmerich & Payne during the fourth quarter worth about $271,000. Finally, Macquarie Group Ltd. increased its stake in shares of Helmerich & Payne by 0.9% in the fourth quarter. Macquarie Group Ltd. now owns 53,350 shares of the oil and gas company’s stock worth $4,129,000 after buying an additional 500 shares in the last quarter.

About Helmerich & Payne

Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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